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Published: 2024-03-05 16:31:46 ET
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EX-99.1 2 exhibit991revised050923q1pr.htm EX-99.1 Document

Exhibit 99.1
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Revised First Quarter 2023 Non-GAAP Financial Measures

Cutera, Inc. (Nasdaq: CUTR) (“Cutera” or the “Company”) hereby provides an update of its Non-GAAP financial measures for the first quarter ended March 31, 2023.


CUTERA, INC. 
RECONCILIATION OF GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME
TO NON-GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME
(in thousands, except percentages)
(unaudited) 

 
Three Months Ended March 31, 2023
 Gross ProfitGross MarginOperating Income
Reported$21,632 39.7 %$(26,601)
Adjustments:
Depreciation and amortization including contract acquisition costs1,599 2.9 %3,587 
Stock-based compensation364 0.7 %3,386 
ERP implementation costs— — 518 
   Legal — — 652 
Severance119 0.2 %315 
Other adjustments— — 585 
     Total adjustments2,082 3.8 %9,043 
Adjusted$23,714 43.5 %$(17,558)

 
Three Months Ended March 31, 2022
 Gross ProfitGross MarginOperating Income
Reported$31,788 54.8 %$(13,157)
Adjustments:
Depreciation and amortization including contract acquisition costs76 0.1 %1,079 
Stock-based compensation459 0.8 %4,043 
ERP implementation costs— — 3,976 
   Legal— — 254 
     Total adjustments535 0.9 %9,352 
Adjusted$32,323 55.7 %$(3,805)